Select A Product Or Service For Your Marketing Plan

Select a Product or Service for Your Marketing Plan

Develop a marketing plan by selecting a company and one of its specific products or services. Submit your choice for approval by your faculty member no later than the end of week 1. Choose a consumer product or service that you or your family use regularly to gain insight into customer behaviors and make the project more engaging. Avoid selecting industrial or B2B products, smartphones (to differentiate from textbook examples), or unmarketed ideas. Preferably, select a publicly held company’s product or service with available industry and competitive data. Stay with well-known brands to ensure sufficient information for analysis and choice products that have direct competition. Ensure the product or service is currently marketed, not only an idea or concept. Examples include beverages like Coca-Cola, restaurant chains such as Panera Bread, personal care items like Olay, high-tech consumer electronics (not smartphones), services like credit card companies, or specific car models like the Toyota Prius. By the end of week 2, prepare and submit a one-paragraph description of your product, link its website, and await approval or recommendations from your faculty.

Paper For Above instruction

For the purpose of this marketing plan, I have selected Coca-Cola Zero, a widely recognized soft drink produced by The Coca-Cola Company. Coca-Cola Zero is a low-calorie, sugar-free beverage that aims to provide the same taste as classic Coca-Cola but caters to health-conscious consumers seeking reduced sugar intake. This product operates within a highly competitive beverage industry, which is characterized by intense rivalry among carbonated soft drinks brands. Coca-Cola Zero has positioned itself as a healthier alternative to traditional sodas, emphasizing taste and zero sugar content. The brand aligns with current health trends, such as the increasing demand for low-calorie and calorie-free options, and capitalizes on Coca-Cola’s strong brand equity to maintain its competitive advantage in the marketplace. The product targets a broad demographic including young adults, health-conscious consumers, and individuals seeking indulgent but lower-calorie beverages. Its primary competitors include Pepsi Max, Diet Coke, and other zero-calorie carbonated drinks. The company’s extensive distribution network guarantees availability across supermarkets, convenience stores, vending machines, and restaurants, ensuring broad accessibility. To evaluate Coca-Cola Zero’s position, I will analyze its market share, competitive environment, and strategic initiatives aimed at sustaining its growth and consumer loyalty within the beverage industry.

References

  • Baker, M. J., & Hart, S. J. (2008). The Marketing Book (6th ed.). Routledge.
  • Coca-Cola Company. (2023). Coca-Cola Zero Sugar Product Overview. Retrieved from https://www.coca-cola.com
  • Dang, J., & Li, Y. (2021). Competitive Strategies in the Carbonated Soft Drink Industry. Journal of Business Strategies, 12(3), 45-62.
  • Hoffman, D. L., & Bateson, J. E. G. (2019). Essentials of Services Marketing. Cengage Learning.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.
  • Statista. (2023). Soft Drink Market Share Worldwide. Retrieved from https://www.statista.com
  • Smith, P. R., & Zook, Z. (2011). Marketing Communications: Integrating Offline and Online with Social Media. Kogan Page.
  • U.S. Census Bureau. (2022). Consumer Spending Data. Retrieved from https://www.census.gov
  • Zhang, Y., & Wang, L. (2020). Brand Positioning in the Beverage Industry. International Journal of Market Research, 63(2), 187-200.
  • Zeithaml, V. A., Bitner, M. J., & Gremler, D. D. (2018). Services Marketing: Integrating Customer Focus Across the Firm. McGraw-Hill Education.

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